W. P. Carey Inc. (NYSE:WPC) Receives Consensus Recommendation of “Hold” from Analysts

W. P. Carey Inc. (NYSE:WPC) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.70.

A number of research firms recently commented on WPC. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Scotiabank upped their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Wells Fargo & Company decreased their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Finally, UBS Group initiated coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target on the stock.

Hedge Funds Weigh In On W. P. Carey

Institutional investors and hedge funds have recently modified their holdings of the stock. Raleigh Capital Management Inc. increased its position in W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 191 shares during the last quarter. SRS Capital Advisors Inc. grew its position in W. P. Carey by 1.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after acquiring an additional 191 shares in the last quarter. Gradient Capital Advisors LLC increased its stake in shares of W. P. Carey by 0.6% during the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 199 shares during the last quarter. Accurate Wealth Management LLC increased its stake in shares of W. P. Carey by 5.6% during the 1st quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 208 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of W. P. Carey by 6.2% during the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 208 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $55.05 on Wednesday. W. P. Carey has a 52 week low of $51.36 and a 52 week high of $73.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock has a market cap of $12.05 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company’s 50-day moving average price is $56.69 and its two-hundred day moving average price is $58.72.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.87 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. W. P. Carey’s dividend payout ratio is presently 131.56%.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.